(a) On the Early Purchase Option Date (specified in Annex B), Lessee may, so long as no Event
of Default or any event or occurrence which with the giving of notice or passage of time or both
would result in an Event of Default exists hereunder and this Lease has not been earlier
terminated, purchase the Aircraft on an AS IS BASIS for cash equal to the Early Purchase Option
Price (specified on Annex B), plus all applicable sales taxes. Lessee must give Lessor at least
thirty (30) days, but not more than ninety (90) days, prior written notice of the purchase. Lessor
and Lessee agree that the Option Price is a reasonable prediction of the price that a willing buyer
(who is neither a lessee in possession or a used aircraft dealer) would pay for the Aircraft on the
Early Purchase Option Date in an arm’s length transaction to a willing seller under no compulsion
to sell.

     (b) If Lessee has elected to purchase the Aircraft, then on the Early Purchase Option Date
Lessee shall pay to Lessor the Early Purchase Option Price (plus all applicable sales taxes)
together with any Rent and other sums due and unpaid on the Early Purchase Option Date. Upon
receipt of indefeasible payment in full of such amounts by Lessor, Lessor shall convey all of its
right, title and interest in and to the Aircraft to Lessee on an AS IS BASIS without representation
or warranties of any kind, other than the absence of liens created by or through Lessor.




|  |  |  |
| --- | --- | --- |
| **19.** |  | **END OF LEASE PURCHASE OPTION:** |